topic Re: Should I get two? in Credit Cards

Should I get two?

Anonymous — Fri, 02 Oct 2020 03:02:13 GMT

Hello

wanted to know what the community thinks.

i already have a CO QS & a CO P and I just checked for upgrades and I can upgrade the CO P to another QS. Would you guys do that? Have two of the same card?

Re: Should I get two?

Brian_Earl_Spilner — Fri, 02 Oct 2020 03:13:13 GMT

It's better than not earning rewards or getting a Venture One

Re: Should I get two?

OmarGB9 — Fri, 02 Oct 2020 10:29:50 GMT

@Brian_Earl_Spilner wrote:
It's better than not earning rewards or getting a Venture One

Re: Should I get two?

Slabenstein — Fri, 02 Oct 2020 13:13:43 GMT

The upgraded QS would be the same card as the Plat, just with rewards for spend, so I don't see a reason not to. Maybe Cap1 will allow cards to be combined again sometime in the future, but for now might as well convert and keep them both if the Plat and the first QS were already cards you wanted to hold onto.

Re: Should I get two?

Loquat — Fri, 02 Oct 2020 14:55:16 GMT

I agree with others who have chimed in here. As long as it's a QS and not a QS1, I'd definitely go with earning something over nothing.

BTW, welcome to forum. Stick around these here parts and learn as much as you'd like. Search topics of interest and feel free to ask if you can't find the answer or need clarity on all things credit.

Re: Should I get two?

Mr_Mojo_Risin — Fri, 02 Oct 2020 15:32:45 GMT

Yep, same as the other members have said. I would do the upgrade.

Enjoy the extra cashback!

Re: Should I get two?

coreysw12 — Fri, 02 Oct 2020 16:40:21 GMT

Yep - you're going to have to put at least some spend on the platinum card in order to avoid having it closed or CLD'd for inactivity, so you might as well be earning 1.5% on it when you do.

As you know, the QS and the P are exactly the same card - just with 1.5% cashback on the QS. Otherwise the terms are identical. So no reason not to upgrade. Really the only reason anyone should ever have a Platinum is because they haven't been offered an upgrade to QS yet.

Even though my QS is largely useless for me these days, I do occasionally use it abroad because it has no FTF (which my CFU and Citi DC both do).

Re: Should I get two?

Brian_Earl_Spilner — Fri, 02 Oct 2020 16:44:24 GMT

@coreysw12 wrote:
Yep - you're going to have to put at least some spend on the platinum card in order to avoid having it closed or CLD'd for inactivity, so you might as well be earning 1.5% on it when you do.

As you know, the QS and the P are exactly the same card - just with 1.5% cashback on the QS. Otherwise the terms are identical. So no reason not to upgrade. Really the only reason anyone should ever have a Platinum is because they haven't been offered an upgrade to QS yet.

Even though my QS is largely useless for me these days, I do occasionally use it abroad because it has no FTF (which my CFU and Citi DC both do).

They're not the same card. The QS is for excellent credit. An upgrade simply tacks on the QS reward system to a Platinum. Underwriting is very different when apping. The qs1 would be pretty much the same as a Platinum, except it earns qs rewards and has an annual fee.

Re: Should I get two?

coreysw12 — Fri, 02 Oct 2020 16:57:19 GMT

Fair enough, but aside from the credit rating requirements for approval, the QS and Platinum cards have the same terms as each other (+ 1.5% cashback on the QS) - that's more what I meant, since OP has already been offered the upgrade, so approval requirements aren't really a factor for them.

Re: Should I get two?

SirMilo — Fri, 02 Oct 2020 17:44:20 GMT

IDK if this is relevant but I will leave it here anyway.

My oldest credit line is a CO Platinum Visa. After happening across this forum a few years back, I realized that there was a way to check for offrers/upgrades that didn't normally show up in my account. Long story short, I had a PC to QS available which I accepted in an attempt to have a card I might use occasionally. Other than a low interest rate, it didn't have much going for it beyond being my oldest CC.

My account still shows as a Platinum and still retains a significantly lower APR from 2006 but I am now able to at least take advantange of the rewards. My CL never really grew much but my card still kept an APR that destroys my newer rewards card interest rates. Of course this means very little since I don't carry balances anyway.

Re: Should I get two?

M_Smart007 — Fri, 02 Oct 2020 19:53:01 GMT

@Anonymous, Welcome to the forum!

I am no Cap1 expert, but if you have any AF's?, I would try to ditch those if possible.

I have several lenders where I have (2) of the same card.

Re: Should I get two?

sxa001 — Fri, 02 Oct 2020 20:03:05 GMT

@M_Smart007 wrote:
@Anonymous, Welcome to the forum!
I am no Cap1 expert, but if you have any AF's?, I would try to ditch those if possible.
I have several lenders where I have (2) of the same card.

The Platinum does not have an AF, if the OP is going from a Platinum to the Quicksilver (not QS One) there will be no fee. I would probably do the PC, that way the OP is still getting 1.5% on the periodic spend needed to to keep the card open.